EY releases new tool for analyzing Bitcoin transactions and on-chain data

Giant 4 accounting company EY has introduced a brand new answer for investigating on-chain knowledge together with Bitcoin (BTC) transactions. 

The brand new Explorer and Visualizer answer introduced as part of the EY Blockchain Analyzer product suite. In step with a statement on Sep. 27, the beta model is now to be had free of charge for people. 

EY additionally stated that it’s going to quickly make the answer to be had as a provider on its blockchain web page.

Customers will be capable of make the most of seek functionalities along side its visualization era. It’ll permit audit groups to discover and monitor on-chain knowledge by means of in search of explicit transactions, addresses and blocks. They will then analyze the amassed knowledge to control felony, compliance and fraud dangers. 

EY international forensic and integrity products and services lead Andrew Gordon stated that the Explorer and Visualizer answer will make monetary reporting for blockchain-enabled transactions extra handy. It’ll lend a hand “spotlight possible outliers together with fraudulent red-flag actions,” he added.

Moreover, EY has introduced a brand new procurement answer on its OpsChain platform — EY OpsChain Community Procurement — which can expectedly permit firms to privately and securely habits end-to-end procurement actions at the Ethereum blockchain.

Recently to be had in unfastened beta, the answer is claimed to transport trade processes from undertaking useful resource making plans programs to shared blockchain-based good contracts, permitting them to routinely monitor volumes and international expenditure. The answer may be anticipated to lend a hand consumers and dealers have parity and paintings with globally agreed phrases and pricing.

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